Leading the BID industry
POSTED ON: 10/11/2022
Last week’s National BIDs Conference included a broad range of topics from Retail trends, Government policy, right through to Arts and Culture.
One week on, here’s a quick round-up of the key messages from the day.
Last week’s National BIDs Conference included a broad range of topics from Retail trends, Government policy, right through to Arts and Culture.
One week on, here’s a quick round-up of the key messages from the day.
1. Restaurants top the highest category for spend and transactions in 2022.
2. Physical retail is still vital but BIDs will need to prepare for a difficult Christmas as 25% of shopping is now online and not continuing to slow down.
3. More consumers are ‘shopping with purpose’, resulting in higher conversion despite lower footfall.
4. Business Rates are a major contributing factor as to whether shops remain open and whether businesses can expand. 4 out of 5 say they are more likely to reduce physical stores if business rates are not reviewed. BID industry bodies continue to lobby for Government intervention, with BIDs encouraged to share data with British BIDs to support the review and funding mechanisms for the future.
5. Sustainable, affordable local infrastructure is important to valuable spaces and making them comfortable for people. BIDs are becoming stronger in aligning with their local authorities over these sorts of matters.
6. The Government’s approach to supporting BIDs is taking form via increased engagement to better understand how BID policy and BID regulations could be improved.
7. Government feedback from BIDs so far suggests a need to modernise the ballot process, increase government guidance, review length of BID term and better support the relationship between BIDs and their local authority.
8. BIDs who provide active Child safety schemes, CCTV, facial recognition technologies and PCSO’s are some of the best approaches to reducing crime on the high street. There is a direct correlation between lower levels of crime in areas where there are BIDs.
9. Arts and Culture play a huge role in the identity of a place and are increasingly important to encourage people back into town and cities. BIDs such as Leicester have tangible, positive ROI investing in such initiatives.
10. Councils faced bigger reductions than almost any other part of the State between 2010-2022 highlighting how important BIDs are in Britain’s civic life.
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